Q3 25 EPS
$1.28
BEAT +5.25%
Est. $1.22
Q3 25 Revenue
$1.41B
BEAT +0.28%
Est. $1.40B
vs S&P Since Q3 25
+67.5%
BEATING MARKET
ODFL +76.2% vs S&P +8.7%
Market Reaction
Did ODFL Beat Earnings? Q3 2025 Results
Old Dominion Freight Line posted a better-than-feared third quarter, with diluted EPS of $1.28 beating the $1.22 consensus by 5.25% even as revenue slipped 4.3% year-over-year to $1.41 billion, edging past the $1.40 billion estimate by a narrow 0.28%… Read more Old Dominion Freight Line posted a better-than-feared third quarter, with diluted EPS of $1.28 beating the $1.22 consensus by 5.25% even as revenue slipped 4.3% year-over-year to $1.41 billion, edging past the $1.40 billion estimate by a narrow 0.28%. The headline story was a freight market still under pressure, with LTL tons per day falling 9.0% and shipments per day declining 7.9%, metrics CEO Marty Freeman attributed to broad macroeconomic softness. Yet yield discipline cushioned the blow, with LTL revenue per hundredweight excluding fuel surcharges rising 4.7% to $28.78, helping the company absorb volume losses without abandoning pricing strategy. The operating ratio deteriorated 160 basis points to 74.3% as lower volumes deleveraged overhead costs, pushing net income down 12.2% to $270.95 million. With shares having touched a 52-week low recently amid sector-wide pressure, management's forward outlook leaned on strategic positioning, pointing to roughly $450 million in planned 2025 capital expenditures as evidence the company is building capacity to capture share when demand recovers.
Key Takeaways
- • LTL revenue per hundredweight excluding fuel surcharges increased 4.7% year-over-year
- • LTL tons per day decreased 9.0% reflecting macroeconomic softness
- • LTL shipments per day decreased 7.9%
- • LTL weight per shipment decreased 1.2%
- • Operating ratio increased 160 basis points to 74.3% due to revenue deleveraging on overhead costs
- • Direct operating expenses maintained at the same percentage of revenue as prior year
- • 99% on-time service and 0.1% cargo claims ratio maintained
- • LTL revenue per shipment excluding fuel surcharges increased 3.4% to $419.67
ODFL YoY Financials
Q3 2025 vs Q3 2024, source: SEC Filings
ODFL Revenue by Segment
With YoY comparisons, source: SEC Filings
“Old Dominion's third quarter financial results include decreases in both revenue and earnings per diluted share. The decrease in our third quarter revenue was primarily due to a 9.0% decrease in our LTL tons per day, which was partially offset by an increase in our LTL revenue per hundredweight. The decrease in our LTL tons per day reflects a 7.9% decrease in our LTL shipments per day and a 1.2% decrease in our LTL weight per shipment that is generally indicative of softness in the macroeconomic environment. LTL revenue per hundredweight, excluding fuel surcharges, increased 4.7% compared to the third quarter of 2024. Our focus on consistently improving our yields remains a key element of our long-term strategic plan and is supported by the ongoing value that our customers realize from our best-in-class service. Through the hard work and dedication of the OD Family of employees, we were pleased to once again provide our customers with 99% on-time service and a cargo claims ratio of 0.1% during the third quarter.”
— Marty Freeman, Q3 2025 Earnings Press Release
ODFL Earnings Trends
ODFL vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
ODFL EPS Trend
Earnings per share: estimate vs actual
ODFL Revenue Trend
Quarterly revenue: estimate vs actual
ODFL Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 | — | $1.14 | — | $1.33B | -6.87% |
| Q4 25 MISS FY | $1.10 | $1.09 | -0.91% | $1.31B | +0.40% |
| FY Full Year | $4.81 | $4.84 | +0.66% | $5.50B | +0.09% |
| Q3 25 BEAT | $1.22 | $1.28 | +5.25% | $1.41B | +0.28% |
| Q2 25 MISS | $1.28 | $1.27 | -1.06% | $1.41B | -0.59% |
| Q1 25 BEAT | $1.14 | $1.19 | +4.14% | $1.37B | +0.49% |